Friday, October 31, 2014

NAI Realvest Negotiates New Industrial Lease for Construction Supplier in Altamonte Springs, FL

  
Kimberly Manson

 ORLANDO, FL – NAI Realvest recently negotiated a lease agreement for 14,910 square feet of industrial space at 500 Plumosa Ave. off Ronald Regan Blvd. in Altamonte Springs.

The NAI Realvest team of Jeffrey Tanner and Kimberly Manson represented the landlord, DDS Plumosa, LLC based in Lisle, IL.   

The tenant, Atlantic Construction Fabrics, Inc. of Orlando was represented by Harry Champ of Coldwell Banker Commercial NRT.

The tenant is a supplier of geosynthetic solutions for the construction industry.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


NAI Realvest negotiates Three New Industrial Leases totaling more than 7,800 Square Feet at Hanging Moss and Airport Centers in Orlando, FL

  
Mary Frances West

 ORLANDO, Fla. – NAI Realvest recently negotiated three new industrial leases totaling 7,875 rentable square feet at Hanging Moss CommerCenter and Regional Airport Center in Orlando. 

Michael Heidrich, a principal at NAI Realvest and associate Kristen Kemp represented landlord Hanging Moss SPE, LLC in two lease agreements -- one for 2,000 square feet in Suite 560 at 6100 Hanging Moss Rd. 

Engineering Support Personnel is the new tenant who was represented by Mary Frances West, senior broker associate at NAI Realvest.

For the same landlord Heidrich and Kemp negotiated a new lease for 1,875 square feet at 6124 Hanging Moss Rd. Suite 350.  GDR Garage Door Repairs Co. is the new tenant. 

At 8350 Parkline Blvd. Unit 7 in the Regional Airport Center, Heidrich and Kemp negotiated a lease agreement for 4,000 square feet on behalf of the Columbus, Ohio-based landlord Parkline Properties, LLC and the new tenant is Gulf Western Roofing & Sheet Metal, LLC.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


NAI Realvest negotiates sale of office condominium for $200,000 at Lake Mary City Center in Lake Mary, FL

  
Kristen Kemp
ORLANDO, FL — NAI Realvest recently negotiated the $200,000 sale price for a 1,827 square foot office condo at 2500 W. Lake Mary Blvd. in the Lake Mary City Center in Lake Mary. 

Michael Heidrich, principal at NAI Realvest and Kristen Kemp, associate,  negotiated the sale of Suite 208 at the center representing the local seller Horwath & Associates LLC.  

The buyer, 2241 Lake Irish Pointe Holdings, LLC, a privately held investment firm purchased the office condominium.    Michael Palombi of Weichert Realtors Hallmark Properties represented the buyer in the transaction.

For a complete copy of the company’s news release, please contact:

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com


HFF Hotel Group closes sale of Hotel Urbano in Miami, FL





Max Comess
MIAMI, FL – HFF announced it has closed the sale of Hotel Urbano at Brickell, a 65-key boutique hotel located on historic Brickell Avenue in Miami, Florida. 

HFF marketed the property on behalf of the seller, an affiliate of The Carlyle Group and Rodblu Investment Fund 1.  Baywood Hotels purchased the offering free and clear of debt and will assume property management.

               The property is located at 2500 Brickell Avenue and occupies an expansive parcel with frontage on both Brickell and South Miami Avenues in an area commonly known as “Millionaires’ Row”.

 Completed in 1961 and completely redeveloped in 2010, the boutique hotel features rotating art exhibits from up-and-coming Miami artists, three meeting spaces totaling 1,650 square feet, the Bistro Urbano restaurant and bar, an outdoor resort pool surrounded by cabanas equipped with flat-screen televisions, fitness center and business center.

 The hotel was offered with valuable development rights allowing for a 64-room (12,699 square feet) expansion on the site.

Daniel C. Peek
               The HFF investment sales team representing the seller was led by director Max Comess, senior managing director Daniel C. Peek and associate directors Cyrus Vazifdar and Scott Wadler.

“The opportunity to acquire Hotel Urbano and its valuable urban development rights was aggressively pursued by investors from the U.S., Latin America and Asia,” Comess said.  

“The high physical quality of this hotel combined with a flexible expansion opportunity appealed to Baywood, who has emerged as one of the most active hotel developers in Miami today.”

“The Hotel Urbano transaction provides further evidence to the evolution of Miami as a true gateway market,” Peek added. 

“The dramatic attraction of hotel investors to the area that began on South Beach has spread to downtown, the Brickell corridor, Coral Gables and the entire metropolitan area.”

Cyrus Vazifdur
               HFF’s Hotel Group has been active in the sale and financing of similar hotels across the country with a focused concentration in South Florida. 

The closing of Hotel Urbano comes on the heels of several other notable boutique hotel transactions arranged by HFF this year including The Raleigh Hotel on Miami Beach, il Lugano on Ft. Lauderdale Beach, the Islamorada Resort in the Florida Keys, and the Inns of Sanibel Portfolio on Sanibel Island.


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF arranges $9.97 million financing for Class A specialty center in the Brentwood section of west Los Angeles, CA


Kevin Mackenzie
IRVINE, CA – HFF announced it has arranged $9.97 million in first lien financing for the acquisition of a Class A, 11,990-square-foot specialty center in the affluent Brentwood area of West Los Angeles, California.

               HFF worked exclusively on behalf of GPI Companies to secure the loan through Los Angeles-based City National Bank.  Loan proceeds were used to acquire the property. 

The upscale specialty center is situated on a 20,022-square-foot lot at 11770 San Vicente Boulevard near the intersection of San Vicente Boulevard and Barrington Avenue in the heart of Brentwood. 

The property inhabits a prominent corner lot with more than 250 feet of frontage on San Vicente with an average traffic count of more than 35,000 vehicles per day.  Additionally, the property has an adjacent 29-space parking lot. 

Greg Brown
The center is 100 percent leased to Gaucho Grill, Pizzicotto Restaurant, First Republic Bank, Peet’s Coffee, Subway, Chase Bank ATM and Radco RE.

The HFF team representing the borrower was led by senior managing director Kevin Mackenzie, associate directors Greg Brown and Jeff Sause and real estate analyst Jamie Kline.


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF closes sale of Long Island City, NY development site


Andrew Scandalios
NEW YORK, NY – HFF announced it has closed the sale of a commercial development site located at 11-55 49th Avenue in Long Island City, New York. 

               HFF marketed the property on behalf of the seller and procured the buyer, Criterion Group LLC.

               The development site is located at 11-55 49th Avenue adjacent to the 7 Train in the Hunter’s Point neighborhood of Long Island City. 

This places the property a short distance from the Queens Midtown Tunnel providing access to Manhattan across the East River.  The site is currently a 26,415-square-foot vacant parking lot and it is zoned for 132,074 square feet of residential or commercial development.

               The HFF investment sales team representing the seller was led by senior managing director Andrew Scandalios, managing director Jeff Julien, director Rob Hinckley and associate director David Fowler.

               Criterion Group LLC and its affiliates, based in New York, invest in diversified property offerings including residential development and acquisitions, industrial and distribution, retail, office and value added repositionings.


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF closes sale of 800 17th Street in Washington, D.C.


800 17th Street, Washington, DC


John Pelusi
WASHINGTON, D.C. – HFF announced it has closed the sale of 800 17th Street, a 364,502 square-foot, LEED® Platinum, trophy office building located two blocks from the White House in Washington, D.C.’s central business district. 

               HFF marketed the property on behalf of the seller, The PNC Financial Services Group and procured the buyer, a joint venture between Norges Bank Investment Management and TIAA-CREF.

800 17th Street was completed in 2010 to partially accommodate PNC Bank, N.A.’s regional headquarters. 

The 12-story building features a corner location with three sides of floor-to-ceiling glass offering views of the Washington Monument, Jefferson Memorial, Potomac River and Farragut Square. 

A top-of-the-line amenity package includes a roof top deck and sky garden, private 11th floor balcony, a 7,000-square-foot fitness center and a private two-level parking garage. 

Stephen Conley
In addition to PNC as the lead tenant, Holland & Knight, Analysis Group and Haynes & Boone also occupy space in this prominent office tower. 

The property is located at 800 Seventeenth Street, NW, just two blocks from the White House and proximate to many federal buildings and agencies such as the New and Old Executive Office Buildings, U.S. Chamber of Commerce, Veterans Administration and Department of Treasury.

Tenants have access to mass transit via two Metro stations – Farragut West (Orange, Silver & Blue lines) and Farragut North (Red Line), providing access to the greater Washington, D.C. area. 

The HFF investment sales team representing the seller was led by executive managing directors John Pelusi and Stephen Conley, senior managing directors Andrew Weir, Jim Meisel, and Dek Potts, associate director Matt Nicholson and senior real estate analyst Dave Baker.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF places $56.4 million construction loan for office development in Seattle’s North Lake Union submarket


Bruce Ganong
SAN FRANCISCO, CA – HFF announced it has arranged a $56.4 million construction loan for the development of NorthEdge, a to-be-built, Class A office property totaling 212,000 square feet in the North Lake Union submarket of Seattle, Washington.

               Working on behalf of the borrower/developer, Touchstone Corporation and AIG Global Investment Group, HFF placed the three-year construction loan with Bank of the Ozarks.

               Due for completion in March 2016, NorthEdge will be a four-story office development with 208,000 square feet of office space, 4,000 square feet of retail and a two-level, 314-space subterranean parking garage. 

The architecture seeks to appeal to tech tenants with exposed concrete, open ceilings with heights reaching 17’, and full-height glass windows overlooking Lake Union and the downtown Seattle skyline.

 The property is located at the southeast corner of North 34th Street and Woodlawn Avenue in the popular Fremont neighborhood of the North Lake Union submarket across Lake Union from downtown Seattle.  This desirable submarket is home to companies such as Google, Adobe and Tableau Software. 

Rendering of Planned NorthEdge Office Property
Seattle, WA
               The HFF debt placement team representing the borrower was led by senior managing director Bruce Ganong and associate Brandon Roth.

               “Once complete, NorthEdge will be the premier Class A office development in a severely supply constrained submarket of Seattle,” Ganong said. 

  “The rapidly expanding tech companies in the area are facing virtually no available office space, which will spark significant leasing interest in NorthEdge.”



For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF arranges $10.32 million financing for The Plaza at Hannibal Square in Winter Park, FL


Michael Weinberg
ORLANDO, FL  – HFF announced it has arranged a $10.32 million acquisition financing for The Plaza at Hannibal Square, a 71,330-square-foot, Class A, mixed-use retail, office and multi-housing asset in the affluent Orlando suburb of Winter Park, Florida.

               HFF worked on behalf of the borrower, Owens Realty Capital, to secure the 10-year fixed-rate loan originated by Prudential Mortgage Capital Company. Greg Krafcik, a director in Prudential Mortgage Capital’s Atlanta office, led the origination.  The borrower used the loan to purchase the asset from its equity partner.

               The Plaza at Hannibal Square consists of two buildings situated on 1.22 acres at 362 South Pennsylvania and 444 West New England Avenues, less than a few blocks from the famed Park Avenue in Winter Park and five miles from downtown Orlando.  

The buildings contain 25,210 square feet of retail and 20,242 square feet of office space and 31 multi-housing units, all of which are more than 90 percent leased.    Completed in 2009, the four-story South Pennsylvania building includes a five-story garage. 

Whitaker Leonhardt
The HFF team representing the borrower was led by director Michael Weinberg, associate director Whitaker Leonhardt and real estate analyst Michael Brewster.

”Owens Realty Capital did a masterful job purchasing the asset well below its original development cost and then added a tremendous amount of value through their skilled lease-up and management,” Weinberg said.

 “This generational asset commanded overwhelming attention from debt capital providers. Both the client and the lender executed the purchase and financing flawlessly.”


For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

HFF named to market for sale Class A office tower in Houston’s Galleria submarket


Jeffrey Hollinden
HOUSTON, TX – HFF announced it has been named to market for sale Five Post Oak Park, a 567,264-square-foot, Class A office tower in Houston’s Galleria submarket.

               HFF is marketing the asset on behalf of the seller, Shorenstein.  The property is listed without a formal asking price.

               Five Post Oak Park is situated on 3.6 acres at 4400 Post Oak Parkway just to the east of Loop 610 between Houston’s Galleria and River Oaks areas. 

The property is a short distance from Uptown Park, The River Oaks District, Highland Village and BLVD Place, and is only seven miles from downtown Houston. 

The 28-story asset also includes a 1,673-space parking garage.  Tenants at the 97.8 percent leased tower include Amegy Bank, Willbros U.S., UBS Financial and Midstates. 

               The HFF investment sales team representing the seller is led by senior managing directors Jeff Hollinden and Robert Williamson. 

Robert Williamson
               “Five Post Oak Park is an ideal investment for both ‘value-add’ and ‘lease-to-core’ investors as there is significant upside potential through re-leasing 30 percent of the building when Amegy Bank’s below market lease expires,” said Hollinden. 

“Shorenstein did a remarkable job executing their capital improvement plan to the property during the course of ownership, which has solidified the building’s position at the top of the Galleria evidenced by its occupancy at 98.1%.

“Today, Five Post Oak Park is a prestigious office project located in the Galleria submarket of Houston, which has one of the best office markets and strongest regional economies in the country.”

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com

Dallas Cowboys and Omni Hotels & Resorts Partner to Build Hotel at Cowboys’ Headquarters in Frisco, TX


Stephen Jones
FRISCO, TX  – The Dallas Cowboys and Omni Hotels & Resorts are partnering to develop a new hotel at the future site of the Cowboys World Headquarters in Frisco, Texas.

 The luxurious Omni property will be one of the only full-service upscale hotels in the area, and serve as a cornerstone of the mixed-use development, which will be anchored by the Dallas Cowboys World Headquarters and Frisco’s Multi-Use Event Center.

The publicly owned, 12,000-seat multipurpose event center will be used by the City of Frisco and Frisco Independent School District (FISD) to host various activities including athletic competitions, graduations and other special events. 

The Dallas Cowboys will also use the event center as its training facility.

 “We could not be more proud of our partnership with Omni Hotels & Resorts, a Dallas-based company with a proven track record of successful ventures nationally, including two projects right here in the Metroplex – the Omni Dallas and Omni Fort Worth Hotels,” said Stephen Jones, chief operating officer and executive vice president for the Dallas Cowboys.

Omni is one of the country’s top-rated luxury hotel brands, popular with business travelers and vacationers, alike. 

As one of the most recognizable and popular brands in the world ourselves, it makes perfect sense that we would team up to bring to life this extraordinary development.”

For a complete copy of the company’s news release, please contact:

Anne Tramer Brownlee                                                     972.871.5625                                                                     
atramer@omnihotels.com

Wednesday, October 29, 2014

Matt Davis Joins Lincoln Property Company’s Southeast’s Atlanta Office as Vice President of Office Leasing

  
Matt Davis

 ATLANTA, GA (Oct. 29, 2014) – Lincoln Property Company Southeast’s (Lincoln) Atlanta office has hired Matt Davis, a commercial real estate veteran with 15 years of brokerage experience, as vice president of office leasing.

Davis, who was previously with CBRE in Atlanta, will join the fast-growing office agency leasing team headed by Hunter Henritze and Michael Howell.

Over the course of his career, Davis has completed more than 500 lease transactions totaling over 3.5 million square feet.

Prior to his two-year stint at CBRE, Davis was with Resource Real Estate Partners for 12 years, where he provided landlord representation services for a diverse mix of national and local clients such as RReef, Invesco, Interlock Industries, JG Management and Southeast Office Partners.

Hunter Henritze
The addition of Davis validates the success of Lincoln’s office agency leasing team over the last few years.

Since 2011, the size of Lincoln’s office portfolio has grown, on average, by over 30 percent each year.

The portfolio includes every major office submarket of metro Atlanta and spans the entire spectrum of product, from high-rise, best-in-class space to single-story, suburban office buildings.

 In addition to Davis, Henritze and Howell, the agency team includes veteran Jeff Henson and newcomers Kelsey Mandus and George Gwaltney. Collectively, the six-person team has the depth and bandwidth to handle any assignment.

“Simply put, this is a tremendous hire for us,” said Tony Bartlett, senior vice president at Lincoln who oversees the Atlanta office. 

“Matt Davis brings considerable experience, skill, leadership and a track record of success to an already talented team. His understanding of the unique needs of the clients of third-party service providers meshes seamlessly with our ‘owner-centric’ approach to agency leasing, and we couldn’t be more excited about his decision to join our team.”  

 For a complete copy of the company’s news release, please contact:

Stephen Ursery
The Wilbert Group
404-405-2354

RealtyTrac Reports U.S. Median Home Price Increases Annually for 30th Consecutive Month in September


IRVINE, CA — RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its September and Q3 2014 Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 4,402,741 in September, a decrease of 1 percent from August 2014 and a decrease of 19 percent from a year ago.

The median sales price of U.S. residential properties — including both distressed and non-distressed sales — was $195,000 in September, up less than 1 percent from August and up 15 percent from September 2013. September was the 30th consecutive month where U.S. median home prices increased on an annual basis, and the 15 percent annual increase is the biggest annual percentage increase since October 2005.

“Median home prices nationally in September were boosted by a new low in the share of distressed sales during the third quarter, resulting in fewer home sales on the lower end,” said Daren Blomquist, vice president of RealtyTrac. 

“The share of homes selling above $200,000 is up 7 percent from a year ago, and the share of homes selling above $500,000 is up 15 percent from a year ago.

“Some of the biggest increases in median prices are in markets in the Midwest, Southeast and Inland California, where home prices are still considered a relative bargain for both investors and owner-occupant buyers,” Blomquist added.

“Meanwhile, many of the fastest-appreciating real estate markets last year have now settled into a more sustainable pattern of single-digit appreciation.”

 For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
949.502.8300949.502.8300, ext. 139

NAI Realvest Negotiates New Lease at Sand Lake Shoppes in Southwest Orlando, FL

     
Kimberly Manson

 ORLANDO, FL – NAI Realvest, one of Central Florida’s most active commercial real estate services firms, recently negotiated a new retail lease for 1,375 rentable square feet at 1907 W. Sand Lake Rd. in the Sand Lake Shoppes in Southwest Orlando.

The NAI Realvest team of Jeffrey Tanner and Kimberly Manson brokered the transaction representing the landlord, Sand Lake Shoppes Family LP based in Altamonte Springs, and the new local tenant Guia Local Channel dba International Bikes.

“With the execution of this final lease with Guia Local Channel, NAI Realvest has stabilized Sand Lake Shoppes at 100 percent occupancy,” Tanner said.

 For a complete copy of the company’s news release, please contact:

Beth Payan, Larry Vershel Communications, 407-644-4142 lversehlco@aol.com


EVM Realty Lists Prime Waterfront Miami Beach, FL Residence

  
6410 North Bay Road, Miami Beach, FL
MIAMI BEACH, FL – Miami Beach, FL broker Nelson Gonzalez announces he has just listed a one-of-a-kind MIMO waterfront home with grand style situated on a large 24,000-SF lot with manicured landscaping, 100 feet of water frontage, dock and open water views.

Gonzalez says "This magnificent 5 bed/5.5 bath home has been renovated with high-impact doors and windows, open floor plan, marble and wood floors, fireplace, wrap around balconies, 2 car garage, kitchen w/ marble countertops, Sub-zero refrigerator, Miele appliances, walk-in closets, surround sound system and a full house generator.

Gonzalez says ‘this home will allow you to enjoy Miami's beautiful year round weather, excellent location, water views, refreshing pool and protected waters for boating.  
  
 For a complete copy of the company’s news release, please contact:



Nelson Gonzalez P.A.,
Senior Vice President
305-674-4040
EWM Realty International |419 Arthur Godfrey Road Miami Beach, Fl|33140

                     

Englewood Construction Announces Eight New Retail and Restaurant Projects


William Di Santo
CHICAGO, IL (October 29, 2014) – Englewood Construction, one of the country’s leading commercial construction firms, has announced its restaurant and retail groups have recently broken ground on four projects, completed three projects and started work on one expansion project across the country.

In the Chicago area, Englewood’s restaurant group recently broke ground on an 11,265-square-foot, ground-up Cooper’s Hawk Winery and Restaurant in Oaklawn, Ill., and an expansion for the popular Purple Pig restaurant on Michigan Avenue in downtown Chicago. 

This will be the seventh Chicago-area location for Cooper’s Hawk, which is known for its upscale casual dining and Napa-style wine tasting experience.

The Purple Pig, located in one of Chicago’s busiest commercial corridors, is a popular Mediterranean restaurant and collaboration between several of the city’s famed chefs.

“The restaurant industry remains thriving as consumers continue to crave experiences that can’t be replicated at home,” said William Di Santo, president of Lemont, Ill.-based Englewood Construction.

 “We are excited to embark on two such high-profile projects in the Chicago area. Cooper’s Hawk brings a refreshing design challenge as the owners strive to create a unique environment and experience in each restaurant they develop. We look forward to making the Oak Lawn restaurant a stand-out location.

“As for the Purple Pig, our extensive experience on Michigan Avenue and sterling track record with fine-dining restaurant development will serve us well on this build-out project.”
                       
For a complete copy of the company’s news release, please contact:

Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523

New Brokerage Idealty Launches in Chicago; Game-Changer for Offering Real Estate Services to Creative Class










The founders of Idealty, from left: Kevin McCollow, Preston Jones, Maria Boncza and Matt Andelman.


CHICAGO, IL – Founded on the idea that Chicago’s brokerage industry is in need of a creative kick-start, new brokerage firm Idealty Real Estate has announced its launch with the goal of revitalizing real estate for the creative class. 

Lincoln Park Neighborhood, Chicago, IL
Designed to appeal to innovative professionals who challenge traditional thinking and prize self-expression in their work, Idealty will initially focus on residential brokerage in downtown neighborhoods including Wicker Park, Logan Square, the West Loop, River North, Lincoln Park and Old Town, and will also offer commercial brokerage and development services. 

“Real estate is inherently rich in information and visually beautiful, but the business side of the industry has always been a bit of a late adopter of change, particularly in terms of the creative aspects of marketing, web design and social media,” said Preston Jones, co-founder and director of operations for Chicago-based Idealty.

West Loop Neighborhood, Chicago, IL
“It’s pretty homogenous how listings, neighborhood data and even agents are presented on most brokerage websites. 

"We saw an opportunity to marry our team’s creative energy and capabilities with the brokerage world, and present real estate solutions in a fresh and aesthetically sophisticated way that’s unlike anything else in Chicago.”

For a complete copy of the company’s news release, please contact:


Sarah Lyons, slyons@taylorjohnson.com, (312) 267-4520
Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527

SVN Online AuctionWorks to Host Its Largest Ever Real Estate Auction


Diana M. Peterson
CHICAGO, IL -- SVN AuctionWorks has announced the firm will host its largest online auction to date Nov. 24-26. 

Nearly half of the auction’s more than 90 listings are bank-owned properties, including 17 that will be sold absolute.

The auction includes office, medical office, industrial, retail, mixed-use, single-family, multi-family, and vacant land.  Buyers can bid online or submit pre-auction offers. 

Also included are entire portfolios of properties (apartments, homes, retail/office buildings, notes and lots) available for pre-auction bulk purchase.

“The sheer volume of properties in this online auction speaks to the firm’s success and demonstrates how many owners and brokers are now turning to SVN AuctionWorks to sell their properties in an efficient and timely manner,” said Diana M. Peterson, president of Chicago-based SVN AuctionWorks.

“Banks especially have found our online auctions to be an ideal venue for selling their REOs.”


For more information about SVN AuctionWorks, visit the firm’s website, http://www.svnauctionworks.com/

To learn more about Sperry Van Ness, please visit svnchicago.com.

For a complete copy of the company’s news release, please contact:
 
Mark Thomton, mthomton@taylorjohnson.com, 312-267-4523
Emily Johnson, ejohnson@taylorjohnson.com, 312-267-4522

$23.6 Million in Financing for Conway, SC Student Housing Arranged by R3 Funding


Ray Potter
NEW YORK, NY  – R3 Funding, a national lender correspondent providing origination and workout services, has arranged a $23.6 million fixed rate CMBS loan for a Conway, SC student housing complex. The announcement was made by Ray Potter, managing partner of R3 Funding.

Monarch 544, located at 650 Highway 544 in Conway, consists of a total of 222,322 square feet of off-campus student housing for Coastal Carolina University.

There are over 125 residences there in all—92 four-bedrooms, and 36 two-bedrooms. Each residence is fully furnished, with in-unit washers and dryers and private bedrooms and bathrooms. 

Complex-wide amenities include a hammock lounge, fitness center, pool and lighted sand volleyball court.

The CMBS financing that R3 Funding arranged is for a 10 year term and features a 30 year amortization. The LTV is 75 percent.


Monarch 544 Student Housing, Conway, SC
“Monarch 544’s resort-style setting makes it a great housing solution for Coastal Carolina University’s students,” said Mr. Potter. “We were happy to be able to connect ownership in a timely fashion with the financing that best suited its needs.”

For a complete copy of the company’s news release, please contact:


 
Great Ink Communications—212-741-2977
Eric Gerard,  Eric@greatink.com
Carl Gaines, carl@greatink.com

Roxanne Donovan, Roxanne@greatink.com

Hold-Thyssen Specialist Carol Kinnard Closes Office Lease Despite Flooding Delay at Building in Hudson, FL


Carol Kinnard
TAMPA, Fla.  --- Hold-Thyssen, Inc., a commercial property firm based in Winter Park with offices in Tampa, recently completed a lease for 1,211 square feet of professional office space at 14100 Fivay Rd. in Hudson. 

Carol Kinnard transaction specialist in the firm’s Tampa office brokered the transaction on behalf of the landlord Dr. Rodolfo Dy and Rosemarie Dy and the tenant, a cardiologist doing business as Access Healthcare Physicians LLC. 

The day the lease was scheduled to be signed, the west side of the Bayonet Point Medical Arts building was flooded from a fire sprinkler hit the day before by a contractor handling a third floor renovation.  

While the tenant’s suite 130 was basically not damaged, the lease agreement was delayed over a week until the physician could access the building, and that finally took place after Kinnard made multiple contacts with security and property management.

The tenant ultimately occupied the premises and is extremely satisfied with that decision, Kinnard said. 


For a complete copy of the company’s news release, please contact:
  

Larry Vershel or Beth Payan, Larry Vershel Communications Inc. 407-644-4142 Lvershelco@aol.com


BGLRP Self Storage Group Closes One of the Highest Prices per Square Foot in Florida


Celebration Self Storage, 475 Celebration Place, Celebration, FL


TAMPA, FL -- Brown Gibbons Lang & Company | Real Estate Partners (BGLRP) is pleased to announce the sale of Celebration Self Storage a 57,233 net rentable square foot self storage facility for $11.25 million dollars or $196.56 per net rentable square foot, in Celebration, Florida.

Jay J. Crotty

Jay J. Crotty, Managing Director at BGLRP, and Thomas A. Doyle, Senior Vice President at BGLRP, represented the seller, Celebration Self Storage LLC, and the buyer, Sovran Acquisition Limited Partnership, which operates under the Uncle Bob’s Self Storage brand.

“This sale represents a record for one of the highest prices per square foot in the state of Florida. The price demonstrates the strong operating fundamentals in the self storage market and the continued positive outlook for future job and population growth in the state,” says Jay Crotty.

The subject property, located at 475 Celebration Place in the master planned community of Celebration, Florida, is situated on approximately 13.28 acres of land.

This community was developed by the Walt Disney Company and has very high barriers to entry for any new construction.

Thomas A. Doyle
“This allows Celebration Self Storage to effectively create its own market, as there are no competing self storage facilities within a seven-mile drive of the facility,” says Crotty.

Built in 2006 and expanded in 2008 and 2012, this facility has 233 climate controlled storage units, 113 non-climate controlled storage units, along with 115 rentable parking spaces for RV and boat storage. 

 Brown Gibbons Lang & Company Real Estate Partners (BGLRP) operates in major markets in the U.S., representing private and institutional clients in Healthcare, Housing, Hospitality, Self Storage and Industrial real estate.  

BGLRP was founded by industry veterans with significant experience in each focus sector, totaling more than $5B of closed transaction volume.  

BGLRP focuses on delivering best-in-class representation and advisory services to help our clients maximize the value of their real estate assets utilizing leading-edge financial, marketing, legal, and tax strategies to help our clients pursue advanced strategies and create value.

BGLRP’s Self Storage Group takes a methodical, systematic approach to the business of self storage investment sales, ensuring that every detail gets attended to during the transaction and no stone goes unturned. 

  We work hard to understand the needs, objectives and goals of our clients and work together to implement a strategy tailored to each individual client.  We collaborate with our clients by executing open and candid communication.

For more information, please visit www.bglco.com


 For a complete copy of the company’s news release, please contact:

Thomas A. Doyle | Senior Vice President
Brown Gibbons Lang | Real Estate Partners
T: 813.712.8767 | C: 813.892.7703
FL RE Salesperson | LIC # SL3093911 

Jay J. Crotty | Managing Director
Brown Gibbons Lang | Real Estate Partners
T: 813.712.8767 | C: 813.892.9080
FL RE Broker | LIC # 3061418 

Monday, October 27, 2014

George Smith Partners Secures $95 Million in Construction Financing for New Downtown San Diego, CA Hotel


Malcolm Davies
SAN DIEGO, CA (Oct. 27, 2014) – Commercial real estate investment banking firm George Smith Partners has successfully arranged $95 million in construction financing for development partners The Robert Green Company and Montage Hotels & Resorts to construct a new 317-room Montage-branded hotel in downtown San Diego’s Gaslamp Quarter, according to George Smith Partners’ Principal Malcolm Davies.

The hotel will mark the launch of Montage Hotels & Resorts’ newest hotel brand, Pendry, and will be called Pendry San Diego.

“This hotel project has been in the works for more than 10 years, with a variety of challenges to overcome,” explained Davies. 

“George Smith Partners worked extensively with The Robert Green Company and Montage Hotels & Resorts over the past 15 months to finally secure the construction financing they needed.

“This allowed the work to begin on this $138 million hotel development, which had its ceremonial ground breaking earlier this month.”

According to Davies, the development site originally housed a condemned cigar store and parking lot, and was initially being considered by another developer as the site for a new Marriott Renaissance hotel.

During the recession, this interest waned, and an eminent domain issue emerged with the site’s former cigar shop owner.  These factors contributed to the complexity of this proposed development, as well as its lengthy pre-development phase.

The Pendry San Diego will be located on 5th and J streets in Downtown San Diego, three blocks from the San Diego Convention Center.

Planned for completion in the Summer of 2016, the Pendry San Diego will be a twelve-story, 317-room luxury hotel, including 36 suites. The hotel will also feature several restaurants and bars; an outdoor pool, spa, grill and fitness area on the third floor deck; as well as ballroom and various meeting rooms.
  
For a complete copy of the company’s news release, please contact:

Corynne Randel/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Berger Commercial Realty Hires Four New Employees for Firm’s new Boynton Beach, FL Office

  
Cathie Dzurella

 FORT LAUDERDALE, FL – Regional commercial real estate firm Berger Commercial Realty announced it has hired four new employees to staff its new  Palm  Beach County office.

 The team will manage and lease the firm’s existing assignments as well as a new assignment which consist of a 280,000-square-foot office portfolio in Boynton Beach and Delray Beach. 
  
Cathie Dzurella

A resident of Coral Springs, Cathie Dzurella has been hired as an administrative assistant for the commercial real estate team. She will be responsible for managing the workflow process of leases, extensions, addendums and lease summaries.  Additionally, she will update vendor and tenant contracts to meet compliance standards and lease terms. Dzurella previously served as senior administrative assistant at Honda R&D Americas, Inc. in Los Angeles. She holds an associate’s degree in secretarial sciences from Middlesex County College in Edison, N.J. and is a member of the Arvida Park of Commerce board of directors.

Jennifer Koerber
Jennifer Koerber

A resident of Lantana, Jennifer Koerber has been hired as an assistant property manager. She will assist in the daily operations of office, retail and warehouse properties, including budgeting, tenant relations, vendor management, lease administration, insurance compliance, preventative maintenance, property value enhancement and portfolio growth. Koerber joins Berger Commercial Realty from LouJA Realty, Inc., where she served in the same position. In the past, she has volunteered with Habitat for Humanity and fundraised for the Humane Society.
    
Lee Tomback

Lee Tomback joins the firm as a senior property manager. Tomback has more than 28 years of real estate experience and previously served as vice president and chief operating officer of LouJA Realty, Inc. He is a certified property manager and real property administrator. A resident of Boynton Beach, Tomback received his bachelor’s degree from the University of Hartford in Connecticut. A member of the Humane Society, he volunteers with hospice organizations and Habitat for Humanity of Palm Beach County. 


Lee Tomback
  Robert Dabrowski

Robert Dabrowski joins the firm as a leasing associate.  He will represent landlords in leasing office, retail and industrial space. Dabrowski previously served in the same position at AW Property Co. in Palm Beach Gardens. With five years of real estate experience, his career highlights include leasing 45,000 square-feet of office space in one year and increasing the occupancy of the Comeau Building in West Palm Beach by 70 percent. A resident of North Palm Beach, Dabrowski earned his bachelor’s degree in finance from Indiana University. 

Robert Dabrowski







 Ranked among the largest commercial real estate firms in South Florida, Berger Commercial Realty provides comprehensive, cost-effective property management and brokerage services to both institutional and non-institutional owners. For more information, visit www.bergercommercial.com.

For a complete copy of the company’s news release, please contact:

Marielle Sologuren
Pierson Grant Public Relations
(954) 776-1999, ext. 226

Sunday, October 26, 2014

Marcus & Millichap Arranges Sale of 376-Unit Apartment Community in Columbus, OH


Daniel Burkons
COLUMBUS, OH – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Whispering Pines, a 376-unit apartment asset located in Columbus, Ohio. The terms of the sale were not disclosed.

Michael Barron, first vice president investments, Daniel Burkons, vice president investments and Joshua Wintermute, vice president investments, all in in Marcus & Millichap’s Cleveland office, along with Richard Lattro and Jordan Marshall, associates in the firm’s Columbus office, had the exclusive listing to market the property on behalf of the seller, a Philadelphia-based limited liability company.

Barron, Burkons and Wintermute secured the buyer, an out-of-state private investment group that successfully competed against numerous regional and national buyers for the asset. 

“Investors seeking yield continue to view Columbus as an attractive Midwest market,” says Barron.   

Michael Baron
“We fielded several offers from buyers across the United States at—or even slightly above—this price level,” adds Burkons.

“This size and class of property lends itself to a professional but non-institutional class of owners seeking to grow their presence in an attractive mid-sized market like Columbus,” explains Wintermute.

Whispering Pines is located in north Columbus just off E. Dublin-Granville Road between Interstate 71 and Interstate 270.

 The property is less than 10 minutes from two of Columbus’ major retail and employment corridors, Polaris and Easton Town Center.

The community, which is composed primarily of townhomes, offers one-, two- and three-bedroom floor plans.  Amenities at the property include a clubhouse, community room, fitness center, laundry facility, swimming pool, tennis courts and picnic area. 

For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager

(925) 953-1716